Costco Wholesale Corporation $COST Stock: AEGON ASSET MANAGEMENT UK Plc Raises Holdings

Key Points

• AEGON Asset Management UK increased its Costco stake by 7.3% in the third quarter, adding 2,942 shares to hold 43,235 shares valued at approximately $39.4 million. Institutional investors and hedge funds own 68.48% of Costco stock.
• Costco beat quarterly earnings expectations, reporting EPS of $6.75 versus estimates of $6.54 and revenue of $95.72 billion, up 11.1% year over year. The company also declared a quarterly dividend of $1.47 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $1,090.55. Recent coverage ranges from a Wells Fargo price-target cut and equal-weight rating to buy recommendations from Deutsche Bank and Argus.

AEGON ASSET MANAGEMENT UK Plc raised its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,235 shares of the retailer's stock after buying an additional 2,942 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Costco Wholesale were worth $39,359,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First National Bank of Hutchinson lifted its stake in shares of Costco Wholesale by 0.9% during the 1st quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer's stock worth $1,094,000 after buying an additional 10 shares during the last quarter. Frisch Financial Group Inc. grew its stake in shares of Costco Wholesale by 1.0% in the first quarter. Frisch Financial Group Inc. now owns 1,049 shares of the retailer's stock valued at $1,045,000 after acquiring an additional 10 shares in the last quarter. Main Street Group LTD increased its position in Costco Wholesale by 0.8% during the first quarter. Main Street Group LTD now owns 1,226 shares of the retailer's stock worth $1,221,000 after acquiring an additional 10 shares during the period. HORAN Wealth LLC increased its position in Costco Wholesale by 1.3% during the first quarter. HORAN Wealth LLC now owns 803 shares of the retailer's stock worth $769,000 after acquiring an additional 10 shares during the period. Finally, SHUTTLEWORTH & Co increased its position in Costco Wholesale by 0.4% during the first quarter. SHUTTLEWORTH & Co now owns 2,442 shares of the retailer's stock worth $2,433,000 after acquiring an additional 10 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $1,066.18 on Tuesday. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62. The firm has a market capitalization of $472.46 billion, a P/E ratio of 51.17, a P/E/G ratio of 4.47 and a beta of 0.85. The company's 50 day moving average price is $954.83 and its two-hundred day moving average price is $972.91.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. During the same period in the prior year, the business earned $5.87 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, October 30th. This represents a $5.88 annualized dividend and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 28.32%.

Analyst Ratings Changes

COST has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on Costco Wholesale from $1,000.00 to $950.00 and set an "equal weight" rating on the stock in a report on Friday, September 25th. TD Cowen started coverage on Costco Wholesale in a research report on Friday, October 30th. They issued a "strong-buy" rating on the stock. Guggenheim reaffirmed a "neutral" rating on shares of Costco Wholesale in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Costco Wholesale from $1,091.00 to $1,079.00 and set a "buy" rating for the company in a research report on Monday, September 28th. Finally, Argus reiterated a "buy" rating and set a $1,230.00 price target on shares of Costco Wholesale in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and an average price target of $1,090.55.

Costco Wholesale News Roundup

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Costco’s digital sales rose 22.5% in October, outpacing store comparable sales. Delivery partnerships, personalization and stronger online engagement are helping the company capture changing shopping habits, which could support sales growth. Costco's Digital Sales Outpace Store Comps as Shopping Evolves
• Neutral Sentiment: Costco closed a California warehouse after 37 years and opened a replacement location about a mile away. The new site is 152,000 square feet; this appears to be a relocation rather than a meaningful reduction in the company’s local presence. Costco closes popular California store location after 37 years
• Neutral Sentiment: An article about Costco’s new Medicare Advantage plan highlights a potential consumer trade-off: a member who later wants Medigap coverage may face health questions or be denied after a 12-month trial right ends. The report focuses on enrollment considerations and does not quantify a financial effect for Costco. Medicare Advantage plan and Medigap considerations

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the sale, the executive vice president directly owned 7,134 shares of the company's stock, valued at $6,534,244.62. The trade was a 23.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Richard Wilcox sold 1,100 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the completion of the transaction, the executive vice president owned 3,094 shares of the company's stock, valued at approximately $2,964,701.74. This trade represents a 26.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by company insiders.

Costco Wholesale Profile

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line.

The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.

Founded in 1983 in Seattle, Costco has expanded across North America, Europe, Asia, and Australia.

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